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Here’s what we observe as the markets kick in on Tuesday.
–U.S. equity futures fell slightly as investors awaited testimony from Federal Reserve Chairman Jerome Powell to Congress on the health of the economy.
S&P 500 futures fell 0.5%. The benchmark stock gauge on Monday fell for a fifth straight day, its longest losing streak since last February. Contracts for the Nasdaq-100 fell 1.6%, suggesting that tech stocks will continue to lead the market lower. Read our full market overview here.
What is coming
–Income is due of Macy’s before the opening bell. Toll Brothers and XP will be giving updates after the close.
—FD Chairman Jerome Powell will testify before Congress at 10 a.m. ET, providing an overview of the economy and monetary policy. This is the start of a two-day testimony on Capitol Hill. Watch the livestream here.
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